Posted March 05, 2013
You never know what will happen when you start looking into the currency markets. This week we can see just how true this is, as the US dollar goes head to head with some of the other major world currencies.
Here we are with a fresh week and we have an opening rate of 0.6537 against the British pound. The US dollar built on this today by improving to 0.6606 by the close of play. Against the Euro the dollar started on 0.7583 and then fell back to 0.7516 to close out the day. The issue of parity is never far away when we take a look at the US dollar versus the Canadian dollar, and this is true right here and now. The US dollar started on 1.0206 against the Canadian dollar, and this rose slightly to 1.0223 at the end of the day.
After yesterday’s good start by the dollar, today wasn’t quite as convincing. The dollar slid back slightly to 0.6601 by the end of the day. There was better news against the Euro though, as the dollar rose to an impressive 0.7647 by the day’s end. Parity didn’t seem to be an issue for the US dollar as it rose still further against its Canadian counterpart though. This time it rose to 1.0260 to close out the day.
We might have guessed today would turn out yet another bad result for the dollar. Indeed it dipped back a little more against the pound, falling to 0.6597 as a result. We did however see a drop against the Euro, as the dollar fell back to 0.7635. After two good days on the currency markets we might reasonably have expected a fall against the Canadian dollar. Indeed this is what happened, as the US dollar slipped a little to close on 1.0257.
Another fall was in store for the US dollar today, as it fell to close on 0.6573 against the pound. The dollar also fell against the Euro, sliding back to 0.7616 in the process. Yesterday we also saw a fall against the Canadian dollar, so would we see the same happen again today? The answer was yes, although the fall was restricted to a fairly small one. The US dollar ended up on 1.0252.
Finally we had something better to celebrate today. The US dollar managed to close the week on the best rate against the pound, climbing to 0.6651 as a result. If we were hoping for the best result of the week against the Euro to come today, we were in luck. The closing rate here was a heartening 0.7692. Finally it’s back to see whether the US dollar could finish on a good note against the Canadian dollar. The answer was a positive one as the dollar pushed up to 1.0336 against its Canadian counterpart. This provided a positive end to the week for the American currency.